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ICICI Bank FPO subscribed 5.13 times on third day

Written by: Staff
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Mumbai, June 21 (UNI) The follow on public offer (FPO) of ICICI Bank was subscribed 5.13 times on the third day of the issue.

The bank has allocated upto five percentage of the issue for retail investors, which is around Rs 437.5 crore.

The issue, which has left a green shoe option of Rs 1,312.5 crore, received total bids for 50.71 crore shares on the third day, said sources.

Retail bidders, including existing retail shareholders, have been allotted shares at a discount of Rs 50 per share.

The minimum bid size for all retail investors is six equity shares.

Retail investors, who have been allocated 35 per cent of total issue, can purchase shares by paying Rs 250 on application, Rs 250 on allottement of share and the rest on a call within six months of issue.

The shares can also be purchased by paying full bid amount less the discount. Non-Institutional Bidders have the option to pay Rs 250 on application and the balance on allotment.

Qualified Institutional Bidders (QIBs), who have to pay 10 per cent of the bid amount at the time of application, have been given the option to pay Rs 250 on allocation and balance on allotment.

Non Resident bidders, including Foreign Institutional Investors (FIIs), have to seek prior approval of the central bank to subscribe partly.

UNI

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